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China Plays Active Part in Regional Financial Cooperation
China, as an important country in the Asia-Pacific region, has been actively participating in the regional financial cooperation.
Besides hosting the meeting for finance ministers, China has devoted its efforts to the following four mechanisms for regional cooperation:
-- Asia-European Meeting (ASEM) Finance Ministers Meeting. It focuses on the microeconomic policy between Asia and Europe, strengthening the cooperation among the financial organs of the members and other related issues.
-- Manila Framework Meeting. Its purpose is to strengthen the regional supervision of the economic and financial situation, find out how to prevent financial crisis and help restore regional economy.
-- G-20 Meeting of Finance Ministers and Central Bank Governors. Its purpose is to reform the international financial structure, offer policy suggestions for crisis prevention, the globalization and the world economy at large. The meeting also helps its members to formulate financial policy.
--10+3 (ASEAN + China, Japan and the Republic of Korea) Finance Ministers Meeting. Its purpose is to enhance financial cooperation and strengthen supervision on short-term capital flow in East Asia.
China, as the world's largest developing country, has participated in these meetings and made its own contributions to the economic development in the Asia-Pacific region.
Strengthening regional cooperation is the common aspiration of all world economies in the trend of globalization. China holds that regionalization is consistent with globalization and that countries should participate equally in the cooperation. Moreover, regional cooperation helps globalization to develop smoothly.
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